L1 Crypto Tokens Weekly Gains: t’s been almost two years since the crypto market’s last bull run in 2021. Altcoins followed the lead of Bitcoin ($BTC) and Layer 1 (L1) tokens were at the forefront to gain most value. While investors are looking up to the next bull run, some L1 tokens are presenting an opportunity to fill their bags with profits.
These L1 tokens include leading cryptocurrencies to latest entrants in the space and they are attracting enough attention amid the ongoing rally. $BTC hit a recent high of $44K along with Ethereum ($ETH) achieving a milestone of $2,200 after a long time. Though the flagship currencies halt for the moment, the L1 tokens are carrying out the momentum.
Solana ($SOL)
Solana is among the L1 crypto assets holding the baton for the ongoing rally. The blockchain network is at the top in the list of leading ones. Along with the USP of fast transaction speed, the blockchain is known for maintaining decentralization and security. However, during the start of the year, the networks suffered technical issues for a few weeks.
$SOL token suffered in the wake of these setbacks. As soon as the network got back on track with smooth functioning, the native cryptocurrency took no time to recover. $SOL is among the cryptocurrencies which gained most this year after swelling more than 400%. The growth shows holders saw a golden opportunity to make tremendous profits.
Currently $SOL is trading at $74 after maintaining an increase of over 10% in a week. In the last bull run, the cryptocurrency made the holders an impressive fortune and it is in the position to repeat the same as evident from the recent rallies.
Cardano ($ADA)
The discussion of top L1 layers is incomplete without inclusion of Cardano ($ADA). The project is in competition with Solana in the race to become ‘Ethereum-killer’—a term used for projects/blockchain with potential to beat Ethereum. Although it didn’t ‘kill’ the project until now, it has minimized the difference and made it among the leading ones.
Cardano, being created by one of the pioneers behind creation of Ethereum, Charles Hoskinson, intends to provide all the necessary features of an ideal blockchain. The project maintained a reputation despite getting the smart contract capabilities relatively later than other L1 chains. This did not keep the native token $ADA behind from the competing assets.
$ADA is one of the assets benefitted from the recent bullish trend in the cryptocurrency market. The token surged to the existing trading price of $0.64 after returning an impressive 40% return to investors within the last week.
Elysium ($PYR)
Crypto space saw entities of new L1 chains in the past few years and Elysium ($PYR) garnered notable attention. The blockchain is part of the ecosystem of Vulcan Forged, a project intends to redefine Web3 gaming.
Elysium stands as a decentralized network committed to cutting-edge innovations such as AI, the metaverse, NFTs, and various promising web3 initiatives, operating in an eco-friendly manner. The intuitive tools and advanced technology in the ecosystem bolsters users’ involvement and makes it effortlessly accessible.
The blockchain has garnered tremendous growth since inception. More than 200K users enjoyed enhanced gaming experience across 15 different games on the Vulcan Forged platform. $PYR is the primary token of the ecosystem and is designed to provide on the go liquidity along with easing the gaming assets exchange.
Currently the $PYR token is trading at $6.6 and following the recent rally of L1 tokens, it is up by nearly 9% in the last week. In comparison to last year, the crypto token sits at an impressive profit of up to 100%.
The token holds a market capitalization of more than $178 Million. Gaming space saw significant growth in the past few years and amalgamation with blockchain tech made the existing popular sector more relevant. And considering the sector’s certain growth in the coming years, $PYR token is in the right position to take most of the advantage.
